Berkshire Hathaway just reported that it holds a whopping $116 billion in cash, making up almost a quarter of the company’s market capitalization. Buffett isn’t happy about it, and as he said in his letter to shareholders, he’ll feel a lot better once he’s put that cash to work. In fact, Buffett laid out exactly what acquisition criteria he’s looking for in a prospective purchase, and if your business meets the following six tests, then the Oracle of Omaha wants to hear from you.

Below we offer a template of a 12-month plan that most business owners could employ should they want to sell their business within a 9 month – 15 month window. This is offered to highlight some of the more important aspects of where you should place your focus.

EGS advocates a much longer planning cycle for an exit strategy, but we realize that reality sometimes conspires againt us. Take a look at this one year checklist. Then contact EGS to bring these broad strokes to reality for your operation.

Regardless of when you eventually exit, it’s important to plan ahead so it can be done smoothly, with as little financial impact to the business as possible. Start thinking about succession management sooner rather than later – it’s a good opportunity to evaluate your business and identify its future leader.

A succession plan, or any form of exit strategy will require careful planning. Besides the legal complexities, steps must be taken to ensure that you minimise the tax liabilities and maximise your financial gains.

Poor planning, poor result

If you simply close the doors of your business you will get nothing for the value of your goodwill; indeed you may end up having to pay off outstanding liabilities eg under a lease. It can be better to sell or transfer the business; your business is likely to be worth something to someone else. You should be aiming to make that value as high as possible.

Today, nearly 60% of wealthy investors would consider starting a business of their own. At the same time, more than 40% of current business owners are preparing to exit. In this issue of UBS Investor Watch, “Who’s the boss?”we examine these two trends. Together, they will undoubtedly impact the face of business—and the wealth it creates—for years to come.

A major factor that business owners need to consider when looking to exit their business is the effect that their exit will have on existing employees.This includes not only the direct consequences of your exit, but also the possible morale issues it may cause.

EGS overlooks nothing. Call to get started now.

http://endgame-success.com/wp-content/uploads/2018/02/ee851112-ba76-4eca-8b41-ab1d4155053d.jpg338510Murry Shohathttp://endgame-success.com/wp-content/uploads/2015/12/EndGameSuccess-Logo-1.pngMurry Shohat2018-02-08 02:53:402018-02-08 02:53:40Why Engineering Business Owners Need Time to Plan a Business Exit Strategy

As an entrepreneur, business owner, or self-employed professional, retirement might not be something you spend a lot of time thinking about. Between keeping your business up and running and making enough money to pay your monthly expenses, retirement is your last concern. Should it, perhaps, be a bigger priority?

“Retirement” in this simple article is a synonym for exit strategy. Directed at self-employed folks, the advice is pretty good. You can take it all the way to great by contacting EGS. We begin with a courtesy consultation.